Press Release

Fortress Announces its Second Quarter Dividend of $0.225 Per Share

Company Release - 6/25/2008 9:25 AM EDT

NEW YORK, June 25 /PRNewswire-FirstCall/ -- Fortress Investment Group LLC (NYSE: FIG) announced today that its Board of Directors has declared a second quarter cash dividend of $0.225 per Class A share for the quarter ending June 30, 2008. The dividend is payable on July 11, 2008 to holders of record of Fortress's Class A shares on June 30, 2008.

The Company intends to announce and pay quarterly dividends, and dividend announcements will be separate from quarterly earnings announcements. Quarterly dividends are not necessarily representative of the Company's quarterly earnings.

About Fortress

Fortress is a leading global alternative asset manager with approximately $34.2 billion in assets under management as of March 31, 2008. Fortress raises, invests and manages private equity funds and hedge funds. Fortress was founded in 1998. For more information regarding Fortress Investment Group LLC or to be added to our e-mail distribution list, please visit

Withholding Information

For U.S. federal income tax purposes, the dividend will be treated as a partnership distribution. Based on the best information currently available, when calculating withholding taxes, 14.82 cents of the per share dividend will be treated as U.S. source dividend income, and 3.00 cents of the per share dividend will be treated as U.S. source interest income. Accordingly, for non- U.S. holders of Class A shares, unless an exception to withholding tax applies, the dividend will be subject to a U.S. federal withholding tax of 5.35 cents per share and the dividend received after taking into account such withholding tax will be 17.15 cents per share.

Non-U.S. holders of Class A shares are generally subject to U.S. federal withholding tax at a rate of 30% (subject to reduction by applicable treaty or other exception) on their shares of U.S. source dividends and certain other types of U.S. source income realized by the Company. With respect to interest, however, no withholding is generally required if proper certification (on an IRS Form W-8) of a beneficial owner's foreign status has been filed with the withholding agent. In addition, non-U.S. holders must generally provide the withholding agent with a properly completed IRS Form W-8 to obtain any reduction in withholding.

SOURCE Fortress Investment Group LLC

Contact: Lilly H. Donohue, Fortress Investment Group LLC, +1-212-798-6118